Firstly apologies if this query has been asked before but I have done a search and could not find a full answer
We have a tracker mortage with First Active (now Ulster) that states "lifetime tracker ECB + x% for term 80% LTV", also states "as the ltv is less than or equal to 80% but the rate of interst will never be higher than ECB rate + x%".
LTV is in excess of 80% now - prob >150% due to negative equity - am I at risk of losing the tracker?
We have a tracker mortage with First Active (now Ulster) that states "lifetime tracker ECB + x% for term 80% LTV", also states "as the ltv is less than or equal to 80% but the rate of interst will never be higher than ECB rate + x%".
LTV is in excess of 80% now - prob >150% due to negative equity - am I at risk of losing the tracker?